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AXIS INSURANCE COMPANY v. THE PNC FINANCIAL SERVICES GROUP, INC. et al
Case Number:
2:15-cv-00405
Court:
Nature of Suit:
Judge:
Firms
Companies
Sectors & Industries:
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September 29, 2015
Axis Bid To Escape $25M PNC Coverage Called Premature
Axis Insurance Co.'s attempt to preemptively escape paying out to PNC Financial Services Group Inc. under a $25 million excess policy for the bank's potentially massive exposure to a funeral scam jury verdict and separate overdraft fees litigation is not ripe for adjudication, a Pittsburgh federal judge held Tuesday.
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March 25, 2015
Axis Says PNC Not Covered For $356M Funeral Scam Verdict
Axis Insurance Co. disclaimed responsibility for a $356 million verdict against PNC Bank NA, saying in a declaratory suit filed in Pennsylvania federal court Tuesday that the verdict — over a predecessor's role in a $600 million insurance scam involving prepaid funeral contracts — isn't covered under Axis' policy.